🚨 MAHINDRA Battery-as-a-Service Expanded in EV Portfolio

MAHINDRA & MAHINDRA has expanded its Battery-as-a-Service (BaaS) programme across its entire Electric Origin SUV portfolio — BE 6 SPORTEQ, XEV 9S and XEV 9e. 🔹 BE 6 SPORTEQ: Starts at ₹11.45 Lakh 🔹 XEV 9S: Starts at ₹12.65 Lakh 🔹 XEV 9e: Starts at ₹13.90 Lakh 🔹 Battery usage cost: ₹3.75/km 🔹 Availability: All variants of the three models ⚡ WHAT'S CHANGING? Under BaaS, customers can finance the vehicle and battery separately, reducing the upfront purchase cost and providing greater flexibility in monthly outflows. Mahindra says the programme has received an overwhelming customer response, prompting the company to extend BaaS to its flagship XEV 9S and XEV 9e as well. 📊 INVESTOR TAKEAWAY This is positive for EV adoption and potentially positive for Mahindra's EV volumes, as lower upfront costs can reduce one of the key barriers to EV ownership. The bigger monitorable is whether BaaS translates into higher bookings, deliveries and EV market share over the coming quarters. ⚠️ Important: BaaS is a financing product, not a pay-per-use programme. Pricing depends on battery size, down payment and tenure, while charging, maintenance and other costs are excluded. 🟢 AFS VIEW EV Demand Impact: Positive Volume Potential: Positive Near-Term Earnings Impact: To be monitored Strategic Impact: Positive 📌 Key Trigger: Track EV bookings, deliveries and customer adoption of the BaaS model.